Direct Deposit

Get your refund electronically

Are you due a financial aid refund? With direct deposit, your refund is electronically deposited into your bank account, so you don’t have to watch your mail for a paper check. (Note that you can’t use direct deposit for a Federal Direct Parent PLUS Loan refund to a parent.)

How it works

Sign up for direct deposit in One.IU. When you’re due a refund, you’ll get an email message confirming the amount of the refund and the date we sent it to your bank.

The money will be deposited into your account in two to three business days. Make sure the refund is in your account before you try to use the money. If for any reason your bank won’t accept the funds, we’ll let you know. (This is usually due to an incorrect account number or routing number, so double-check your numbers when you sign up for direct deposit.)

If you change accounts or banks, remember to update your direct deposit information in One.IU.